Europol slams DeFi over high criminal activity
International crime-fighting agency Europol has praised blockchain’s security, but also highlighted high criminal activity in decentralized finance. Europol, the EU law enforcement organization, has published its first European Financial and Economic Crime Threat Assessment. It describes an in-depth assessment of the threats posed by cyber criminal s at the European level. Besides financial crimes in traditional finance, Europol also addressed in the document the illicit use of cryptocurrencies. Although the agency praised blockchain for its independence and security, Europol criticized decentralized finance (DeFi). The agency believes the lack of crypto regulation “leaves openings for economic crime since criminal s hold illicit assets on DeFi platforms.” “The use of cryptocurrencies for criminal schemes is also increasing in line with their overall adoption rate.” Europol You might also like: DeFi group urges UPSTO to protect crypto from ...